I’m still not buying it. Especially not while I’m watching the NODs and foreclosures begin to stack up here in beautiful SoCal. Remember- while everyone may want to live here, not everyone entertains the idea of doing so, and even fewer actually make the move. Are these rising rents going to attract new migration?
Now back to my daily dose of healthy schadenfreude…
P.S. I do agree that “in a few years, rent will be more than the mortgage”, but it will be for entirely different reasons than most people currently believe.
